The default for setupformulas is indentnext=no, at least from a couple
experiments and this line in core-mat.tex (in version 2006.08.08):
\c!indentnext=\v!no,
What's the view on changing it to indentnext=auto, which seems
intuitive at least if one is used to TeX or LaTeX? From the archives,
it seems like 'auto' was the default a few years ago, but maybe there
was reason to change it to 'no'.
-Sanjoy
`Never underestimate the evil of which men of power are capable.'
--Bertrand Russell, _War Crimes in Vietnam_, chapter 1.